Bitcoin [BTC], the world’s largest cryptocurrency, has had an exciting new year as a rise in its prices proved its naysayers and critics wrong. The latest report compiled by Binance Research gave more evidence to support this fact, with numbers suggesting that Bitcoin has outperformed most traditional asset classes in 2019.

BTC’s Year-to-Date [YTD] returns were compared to that of crude oil, tech stocks, United States’ real estate market and other commodities like global stocks and natural resources. Statistics showed that Bitcoin’s YTD was 53 percent, when compared to crude oil’s 33 percent and the 24 percent generated by tech stocks. The research further stated that assets like gold and agriculture generated a negative YTD of 1 percent and 5 percent, respectively.

Bitcoin generating more YTD than gold was a key highlight because of the conflict between gold as a standard store of value and Bitcoin’s claim to that title. This competition was also highlighted by a report presented by the World Gold Council [WGC] recently, where it stated,

“Physical gold can be bought for a small percentage above spot price, and purchasing gold via allocated, physically-backed gold ETFs can cost less than a basis point over spot  As an example, Bitcoin charges many percentage points (we’ve seen as high as 9% on some exchanges) via the process of the bid/ask spreads and entering and exiting positions.”

Binance’s research was conducted to prove that the bear market that had taken hold of the cryptocurrency market last year, had not had any long-lasting effects on the world’s largest cryptocurrency. Many users queried whether the charts would retain the same look if the parameters were risk adjusted. However, Binance Research was yet to respond, at press time.

Despite positive developments in the Bitcoin universe, many critics remain adamant in their opinion that Bitcoin has no place in the world of finance. This was elucidated by Nobel Prize winner, Joseph Stiglitz, who stated,

“It disturbs me a great deal the attention that was given to cryptocurrencies because those were moving things off of a transparent platform into a dark platform.”

The post Bitcoin [BTC] performed better than crude oil and tech stocks in 2019, claims Binance Research appeared first on AMBCrypto.

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